AbbVie to cut 178 jobs in California

North Chicago, Ill.-based AbbVie will lay off 178 workers from its Stemcentrx unit, which the drugmaker acquired for $5.8 billion three years ago, according to the San Francisco Business Times.

The layoffs, which will begin April 5, come after a string of setbacks at the San Francisco-based biotech.

AbbVie purchased Stemcentrx in 2016 for a cancer drug candidate, Rova-T. However, the drugmaker has encountered a series of setbacks with Rova-T, including a failed late-stage trial. In January, AbbVie opted to take a $4 billion impairment charge related to its 2016 acquisition of Stemcentrx.

An AbbVie spokesperson didn't return the Business Journal's request for comment about the layoffs.

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